66% Of Consumers Don’t Want To Open A New Retail Credit Card For Large Purchases

Co-branded retail credit cards are falling out of favor as a financing option for big-ticket purchases. According to a survey from Citizens Bank, up to 66% of shoppers feel that they already have enough credit cards and prefer not to open more just to make a big purchase.

Only 43% of consumers are likely to recommend co-branded credit cards for big-ticket purchases. Instead, most consumers want simpler alternatives to opening a new card: 62% would prefer fixed monthly plans with clear payment terms.